Ohio Valley Precast, a manufacturer of precast concrete products, will invest $12 million to establish new production operations in Clark County, IN. The company plans to create up to 80 high-wage jobs to support increased production of precast concrete components in the industrial, commercial and civil construction sectors.
“Ohio Valley Precast is excited to make this investment in southern Indiana. With this new operation, our company will be able to capitalize on a strong existing demand in the region, while also taking advantage of Indiana’s best-in-class business climate,” said Todd Ball, president of Ohio Valley Precast. “With changing building codes and a tight construction labor market, our insulated precast wall panels bring an unmatched value to owners, developers and contractors. We are looking forward to starting construction and hiring Hoosiers as soon as possible.”
The company, a subsidiary of Lexington, KY-based Bristol Group, will invest construct and equip a new facility which will serve as Bristol Group’s first Indiana operation. The company will build an initial 35,000-square-foot facility, which will be complete by the second quarter of 2017, and plans to nearly double that footprint over the next five years. The new facility will allow the company to increase its production capacity to 3 million square feet of precast concrete components annually and more efficiently serve its regional customers.
The Indiana Economic Development Corporation offered Ohio Valley Precast LLC up to $625,000 in conditional tax credits and up to $50,000 in training grants based on the company’s job creation plans. The incentives are performance-based, so until employees are hired, the company is not eligible to claim them. The Clark County Council approved additional tax incentives at the request of One Southern Indiana.
“Ohio Valley Precast’s decision to establish operations in Indiana continues a trend of growth as businesses across the country are choosing to locate in a state that works,” said Governor Mike Pence. “We have worked diligently to create a low-tax, pro-growth business climate, which is ranked among the top five in the nation, and we are proud to be home to millions of hardworking Hoosiers. This company could create jobs anywhere, but they chose Indiana because we offer the tools needed for success both now and in the future.”
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